"In 2013, aggregate family wealth in the United
States was $67 trillion (or about four times the
nation’s gross domestic product) and the median
family (the one at the midpoint of the wealth
distribution) held approximately $81,000, the
Congressional Budget Office estimates. For this
analysis, CBO calculated that measure of wealth as
a family’s assets minus its debt. CBO measured
wealth as marketable wealth, which consists of
assets that are easily tradable and that have value
even after the death of their owner. Those assets
include home equity, other real estate (net of real
estate loans), financial securities, bank deposits,
defined contribution pension accounts, and business
equity. Debt is nonmortgage debt, including
credit card debt, auto loans, and student loans, for
example..."
Family wealth
Wednesday, August 24, 2016
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